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Popularity of Pre-Engineered Buildings in Remote Regions to Augment the Growth of the Global Pre-Engineered Building Market until 2020, Reports Technavio

June 20, 2016 | By Business Wire News

LONDON

Technavio analysts forecast the global pre-engineered building (PEB) marketto grow at a CAGR of close to 12% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global pre-engineered buildingmarketfor 2016-2020. To arrive at the market size, the study considers the revenue generated from the global sales of PEBs.

Technavio analysts highlight the following three factors that are contributing to the growth of the global pre-engineered building market:

  • Easy construction in remote locations
  • Time- and cost-savings
  • Ecofriendly features

Easy construction in remote locations

While the conventional mode of construction is the most accepted form of construction, it is not suitable for all terrains. However, PEBs can be erected in a wide variety of terrains. For example, constructing a building using conventional methods on mountainous terrain is more difficult when compared to constructing them on plains.

Waste management is another critical issue while constructing in hilly regions, as improper waste management can pollute valleys and riverine systems. Burning waste can increase the risk of forest fires and cause air pollution. PEBs are easier to construct in such regions.

According to Abhay Sinha, a lead analyst at Technavio, “PEBs need less raw materials and allow better inventory management. They also decrease transportation costs and the dependence on laborers. Additionally, they enable less wastage of raw materials and better waste management. So, PEBs are gaining popularity in the construction market in remote regions.”

Time- and cost-savings

The primary and secondary framing structures of a PEB are pre-punched, pre-sheared, pre-welded, predrilled, and pre-formed in the factory before it is shipped to the job site. Since the structural parts are manufactured completely under controlled factory conditions, the quality of the structure is assured. The prefabricated components are assembled with bolt connections at the job site.

The construction of conventional buildings is 20% more expensive than the construction of PEBs, as the cost and time of construction cannot be accurately estimated before the start of construction. Additionally, conventional construction is labor-extensive and often requires heavy machinery, which increases the operational costs. Additionally, PEBs use pre-designed connections and pre-determined material stock to design and fabricate building structures. This significantly reduces the time taken for design, fabrication, and installation. While constructing a conventional steel building usually takes 20-26 weeks, constructing a PEB takes only 6-8 weeks. So, with shorter construction time and lower cost compared to traditional steel buildings, PEBs are becoming popular across the globe.

Ecofriendly features

PEBs are ecofriendly as their components are manufactured from cold formed sheet steel. Steel is one of the world’s most recycled material. Depending on the manufacturing process, 27%-95% of the components of a newly manufactured steel product can be recycled. At the end of any steel product’s life, almost 100% of it can be recycled without losing its engineering properties. So, PEB technology is among the greenest construction methods.

“Most PEBs use skylights and solar panels on rooftops to meet the daylight and captive power requirements. So, they reduce emissions and gain carbon credits unlike the conventional methods for powering the building,” says Abhay.

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technaviois a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

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